Home resales edge higher in August

OTTAWA — Home sales recorded via Canadian MLS Systems advanced for the sixth consecutive month in August, according to the latest data from the Canadian Real Estate Association, with a 1.4% month-over-month increase. Transactions are now running almost 17% above the six-year low reached in February but remain about 10% below highs reached in 2016 and 2017. Activity was up in slightly more than half of all local markets, although monthly changes were generally modest across most of the country. Actual (not seasonally adjusted) sales activity was up 5% from where it stood in August 2018.